USDJPY Market Analysis and Trading Strategies.
*Personal Opinion
I use “XMTRADING” as my trading tool.
It is my personal most trusted trading account and is used by many professional traders.
I use “TradingView” as my analysis tool.
Registering an account gives you access to many features for free.
Waveforms of each time leg
Weekly
Downtrend.
The price rose to the last swing high line but bounced at that price level.
The bias remains bearish unless the last swing high line is clearly broken to the upside.
Daily
Uptrend.
After a battle between buyers and sellers slightly above the last swing low, the buying side currently appears stronger.
There is a possibility that the price will continue to rise toward the previous high, and then to around the recent highest level.
4-Hour
Broke above the last swing high of the downtrend with a candlestick close, forming an uptrend with higher highs and higher lows.
The outlook remains bullish until the new swing low is clearly broken to the downside.
Although the current upward momentum is strong, a pullback is expected at some point.
1-Hour
Uptrend.
Bias remains bullish until the last swing low is clearly broken to the downside.
Trade Strategies
Looking to buy on a pullback at the previous 4H high, which also aligns with the current 1H last swing low — an area where buying interest is likely to appear.
If the 4H previous high doesn’t hold as support, the next potential buy zone would be near the 4H last swing low.
Also keeping an eye on the 21-day moving average on the 4H chart.
If the last swing low on the 4H chart is clearly broken to the downside, the long strategy will be scrapped.
